CHICAGO (AP) -- Exelon Corp. has announced plans to build a solar power plant on Chicago's South Side. However, officials said the plan is contingent on Exelon, parent of Commonwealth Edison, getting a federal loan guarantee for up to 80 percent of its costs.
The $60 million project is planned for a 39-acre plot in the West Pullman neighborhood. The company is negotiating with the city of Chicago to lease the property.
Exelon officials said Wednesday the plant would have 32,800 solar panels that would convert the sun's rays into electricity that could serve 1,200 to 1,500 homes for a year.
Exelon would market the electricity in exchange for a renewable energy credit for each megawatt produced.
Information from: Chicago Sun-Times, http://www.suntimes.com/index